As Cryptocurrency Grows, So Does The Number Of Hackers Stealing Millions From Investors

As crypto grows, so does the level of criminal activity. How can better communications from the best live chat provider put customers at ease? Find out more with Click4Assistance.

Cryptocurrency continues to make waves all over the world. While it continues to break records and attracts new investors, it’s also attracting a growing number of hackers.

In 2021, there were significant attacks on crypto investors, with North Korean hackers stealing over $400 million ($291 million) from various platforms. Another significant attack on the crypto exchange platform BitMart, resulted in losses of around $150m (£113m).

These sorts of attacks understandably create panic amongst investors, so are there any solutions that can help exchanges provide better security and more support for their customers?

Crypto crime hit an all-time high in 2021

The price of cryptocurrency increased in 2021, with multiple factors, including the continuing pandemic, having an impact. But 2021 also saw a significant rise in crypto crime, totalling $14bn ($10.29 million). This is despite the percentage decrease in incidents from the year before.

These types of incidents affect all kinds of people, from novice investors to large companies. Using different techniques, including code exploits, phishing and malware, hackers are able to easily take funds, while investors experience difficulties in getting them back.

Learning lessons from major exchanges

Cryptocurrency is largely unregulated, making it an easy target for hackers. Online systems have an additional vulnerability, but the increase in high-profile cases is calling for regulation of the crypto companies, given the risks to customers’ assets.

US-based exchange, Coinbase, has recently felt the fury of customers concerned about the security of their accounts and investments. After dealing with a high volume of customer service complaints, the company has launched a new phone line to help resolve customer queries. It hasn’t got off to the smoothest start, however, with many customers still unable to resolve their complaints.

A lot of crypto exchanges mainly provide email support, which is proving frustrating for customers, who are investing large sums of money into cryptocurrency. Providing different methods of support can help customers feel more secure, and it can help resolve issues quicker than a back and forth email exchange.

How live chat brings value to crypto

Using a live chat provider gives exchanges a great opportunity to connect with customers and ensure they feel supported. In the wake of rising crypto crime, live chat can help customers ask questions and get the help they need. Providing a valuable service should be a priority for exchanges, and customer service should be at the heart of that - especially for a product that’s still new and unknown to a lot of people.

Click4Assistance is the best live chat provider, providing services for companies across different businesses and bringing them closer to their customers. It’s a service that’s easy to set up and could enhance crypto exchange services in an easy and affordable way. GDPR-compliant and secure, it’s a useful tool for your product.

Find out more about live chat software and request a demo to see how it could benefit you.